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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (24955)	10/10/2006 11:50:27 PM
From: Spekulatius	Read Replies (1) \| Respond to of 78476

Paul funny that you bring up community bank stocks as i have been poking around in this sector and found some values. I believe that times get tougher with higher interest rates, the faltering housing and increased competition for deposits by internet money market accounts. Good management will be able to manage such adversities and a good enough management will be able to sell out <G>. So far on my extended watch list of 20+ bank stocks 3 have been bought out just during the last 3 month. I believe I can do well by looking for stocks with a) low PE b) deposit and loan growth c) good demographics (income and/or population growth) d) Loan quality, low charge offs, sufficient reserves. Of course it's pretty difficult to get all those above in one stock, but i did found a decent number of candidates where i will put in some low bids. Most of those are illiquid so i guess I have a chance to get them filled over time. Today i started with EPIK, a microcap bank in tony Marin county and close to my neck of woods. Decent valuation, somewhat overpaid management, good growth records and growing deposits in one of the most fluent counties in the US are worth a bet for me. See this presentation on EPIK's website for a starter: ofccolo.snl.com My intention is to buy a basked of bank stocks that meet above criteria and sit back and wait for good things to happen. i still own ISBC and sit on almost 50% gain. Too bad that most thrift conversions lately have not been looking that great to me.

To: Paul Senior who wrote (24955)	10/22/2006 1:28:17 AM
From: blankmind	Read Replies (1) \| Respond to of 78476

Paul - i'm still holding CSBK - Clifton - even though it hit a new ytd high - i'm still slightly down - so continuing to hold - i have a near-100% record for stocks that are proiftable & trading below book - but then again - it takes several years sometimes - for anyone looking @ value - csbk closed @ $11.58 - GAAP book value of about $15/share - real book value to include their older branch offices of around $18 or $20 - pays a $.20/share annual div - & they're in the middle of their 3rd "5% share buyback" - so eventually we get to $20+ - good luck